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LG Display to invest $2.6 billion in OLED panel plant in South Korea

Published 23/07/2019, 01:55
© Reuters. FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul
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SEOUL (Reuters) - LG Display (KS:034220) said on Tuesday that it would invest 3 trillion won (2.09 billion pounds) in its organic light-emitting diode (OLED) panels production line in South Korea.

The Apple (O:AAPL) supplier earlier forecast a tough 2019 as it invests heavily in OLED panels at a time of weak demand for smartphones and tech gadgets in general.

The display screen maker said in a statement it would continue to expand its lead in the OLED TV market.

LG Display is shifting its mainstay liquid crystal display (LCD) business toward next-generation OLED panels, as the LCD panel industry is crowded with Chinese rivals.

© Reuters. FILE PHOTO: A man walks out of the headquarters of LG Display in Seoul

The South Korean firm is scheduled to report its second-quarter earnings later Tuesday.

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